InCred Capital, which is a Mumbai based non-banking finance company, has now acquired the Dubai wealth business of L&T Capital. The company, as of now, did not disclose the financial details of the deal.
The deal will mark the InCred entry into the asset management, investment banking, wealth management with the help of InCred Capital, said the announcement.
L&T Capital, which is a wealth management subsidiary of the Mumbai based engineering conglomerate Larsen and Turbo Group, which offers the wealth and investment management solutions to manage the portfolios.
“We see a huge opportunity in the rapidly growing market for wealth management in India. We aim to provide a truly global experience to Indians around the world, and the L&T Dubai acquisition provides us with an excellent platform,” said Bhupinder Singh, founder, and CEO, InCred.
The company has also revealed that the acquisition of the L&T Wealth Dubai Franchise is the first step towards establishing a global India platform for InCred Capital’s businesses.